Marketing project

Different Stages of Product Life Cycle 

Market Development 
The demand for a particular product people is not aware of the product so the marketing and
advertising price is high.
When management introduces a new product to the market it is new for the consumer so it is
necessary that demand is there.
Whether the product fulfill the consumer demand depends on several factors.
The complexity of the product, degree of newness, easy to handle, presence of the competitive
product.
Most companies did not take the initiative to launch a new product and practice product life cycle
because it takes lots of research, innovation, and risk. 
They avoid taking the first byte.
Market Growth 
There is a demand for the product as the product that presents to the audience so demand starts
accelerating.
Consider it as a take-off stage.
At this stage product sale is at its high Potential competitor has had seen development at the first
stage start coping ideas product packaging branding and positioning start seeing at the phase.
As product acceptance starts increasing it becomes easy the best channel of distribution, as it
increases profit get high and attract more competitor.
Marketing Maturity
Demand levels off and grows, for the most part, only at the replacement and new family-formation
rate. 
The product reaches to the target audience. The marketing budget reduces because it almost reaches
to the consumer. 
The product starts moving to the saturation phase. Don’t make a distributor. Pricing at this stage
tending to be competitive.
It starts falling due to the pressure of outside like competitors as well as low demand at this phase to
explore new demographic companies starts innovating changing or developing their product. 
The maturity stage may last long or short time depending on the product .the maturity stage of coca-
cola is very large.
Market Decline 
The product lost its demand. 
Generally, all the products try to keep the product in the maturity stage.
At this phase, product sales decline, as well as the demand.
These are the different stages of the product life cycle and through every new product gone through.
Product Life Cycle Examples

Example 1
Typewriters

In the 19th century, it was popular because it increases the ease of writing accurately. 
But as the laptop, pc, and mobile came in existence it replaces the typewriter, it reduces
the cost as well as demand. 
The typewriter is at its decline stage people as considering laptop and mobile for the
purpose it serves earlier.
Example 2

VCR

Many of us grow or I can say 

We can now say the loyal video cassette recorder (VCR) to the list of gone because it is
almost extinct. T, Funai Corp. of Japan announces that it is going to stop the production
of VCR since its demand decrease. Funai was the last manufacturer of VCR.
According to the company, they could sell only 750,000 units worldwide in 2015, it is no
more beneficial for the company.
VCR has come into existence in 1950. The product was so good, in 1950 and they could
sell each unit to $50000 and it gets the utmost 100 orders in the first week.
But as Netflix came in market VCR cost as well demand declining people start shifting
towards Netflix and amazon prime since it captures people’s attention as well it was
cheap.
 Example 3
Maruti 800 Product Life Cycle 

Maruti 800 was known for a small city car that was manufactured by Maruti Suzuki from
1983 in India from 1983 to  18 January 2014.
This car was a revolutionize step in the history of automobile sector .
It was the affordable car for a common public Maruti Udyog limited launched its first
Maruti 800 in 1983  in the Indian market.
Maruti 800 growth stage
 Maruti 800 came up with new feature ac system and music in the car 
 Sale gradually increase  from 852 to 20 269 and reach up to 31314 
Here strategy was
         The customer was its center 
          Maruti establish its service center to every 50 km 
 Maruti 800 maturity stage
 In 1997 Maruti launch a new car   with Belly Jean shape but it was not accepted by
the customer 
 Launched new version of Maruti 800 exes with new engine shock absorber, coil
spring suspension but this mode 1 however it lost its sale.
 As I told you at this stage competitor starts entering the market just like that
general motors, Ford, Tata.
 In 2002 Maruti launched alto with a bigger and stylish version of Maruti 800 
Also introduce Maruti 
Strategy Adopted By Maruti At This stage 
 It develops a different source of income like Maruti insurance and Maruti finance.
 Since new also join the market, therefore, it develops a new facelift model based
on market feedback and response.
 Made partnership with State Bank Of India 
 Maruti 800 decline stage (2002-2014)
 Many other competitors get into the market like  Hyundai i10 and Chevrolet  due to
which its sales start declining 
The biggest competitor was tata Nano that offers cars at low prices and with more
space .
Other product life cycle example is 3D Televisions Blue Ray Players: DVD Players Video
Recorders: Holographic  Tablet PCs:Projection: Laptops  Typewriters: 

Done by:- Amal Sainudheen

Grade :- 12.A